Lighthouse products were developed and are constantly enhanced through a close partnership with our customers, ensuring each truly solves our customers' business needs. Each product evolved from our considerable experience with payments and securities processing for the wholesale banking sector coupled with our constant evaluation of new and emerging technologies.
The SDN Scanner, our OFAC compliance product, was the first application of its kind to provide an efficient and cost effective solution for banks seeking to comply with the U.S. Treasury's Foreign Asset Control Regulations. This product is continually updated to address the co-mingling of the USA Patriot Act with OFAC requirements, as well as the Bureau of Export Administration's Denied Persons and Denied Entities and the broader set of transaction prohibitions mandated by the Bank of England and the European Union.
Our Securities Transfer System (STS) is the premier product offering for participation in the Federal Reserve's National Book Entry System (NBES). This multi-featured application, used by many of the leading institutions in the Government and Agency securities market, provides connectivity to the FED as well as automatic matching for incoming trades, support for repos, loans and turnarounds. STS also supports a file or transaction interface to several securities accounting systems. Using STS, our customers collectively process a dollar volume in excess of 250 billion dollars each day.
Both the Funds Transfer System and Bulkdata Delivery System provide a cost effective and efficient gateway to the Federal Reserve for processing Fedwire payments and Bulkdata file transmissions. These products enable institutions of any size to benefit from the cost and productivity savings of Fed automation on a low cost Windows Server platform.
More detail about these and our other products can be found by selecting the links above.
